Steam Packet cuts its debt

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The Steam Packet has completed a financial restructuring, which it says significantly reduces its level of debt.

A statement from the shipping company says that the restructure ‘places the company on a sound financial footing for the future, with a group of supportive shareholders and lenders, and has been achieved without the need for government funding or support’.

Stormy waters: Steam Packet debt cut

Stormy waters: Steam Packet debt cut

More on this story in Monday’s Isle of Man Examiner.

Meanwhile, a meeting is to take place this evening (Friday) where travellers can find out about Ellan Vannin Shipping, a rival firm aiming to begin freight services in the autumn and passenger services from next April.

The meeting takes place at Noble’s Park Pavilion in Douglas at 6pm.

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